Thursday, November 01, 2012 9:19:38 AM
Shares Outstanding
The Company’s average number of shares outstanding, assuming dilution, was 278.5 million for the third quarter of 2012, compared to 299.2 million for the third quarter of 2011. Shares outstanding totaled 275.1 million at September 30, 2012. During the third quarter of 2012, the Company repurchased approximately 5.1 million shares at a cost of $100.2 million.
Share Repurchase Authorization
During the third quarter of 2012, the Company announced that its Board of Directors approved a $750 million share repurchase program with an expiration date of January 2014. This new authorization supersedes and replaces the previous authorization for $1 billion that was scheduled to expire in August 2012.
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